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The UK has imposed new sanctions on several cryptocurrency trading platforms, accusing them of assisting Russia in bypassing trade restrictions.
Those blacklisted include platforms such as EXMO Exchange, Bitpapa, Rapira, Nueva Cryptologia, and others.
The UK stated that these platforms are linked to the Kremlin-supported "A7" payment network, which reportedly handled over $90 billion in funds last year, used for Russian oil export settlements and military procurement financing.
The new sanctions include global asset freezes, bans on UK financial institutions providing services, and restrictions on the operation channels of related platforms in multiple countries.
Regions involved also include Kyrgyzstan, Georgia, Panama, and the United Arab Emirates as transit jurisdictions.
The UK government said this move aims to cut off Russia's "shadow financial infrastructure" used for cross-border payments and sanctions evasion through cryptocurrencies.
(Source: ChainCatcher)